HORIZONTAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2016

2016 2015 Increase/ % Change

Decrease
Assets
Current Assets
Cash and Cash 11,,509,162.56 14,870,564.88 (3,361,402.32) -22.60%
Equivalents
Receivables - net 6,033,183.80 5,078,025.49 955,158.31 18.81%
Inventories 3,775,485.57 4,198,664.91 (423,179.34) -10.08%
Total Current Assets 21,317,831.93 24,147,255.28 (2,829,423.35) -11.72%
Non-Current Assets
Property, Plant & 98,730,805.97 80,747,213.29 17,983,592.68 22.27%
Equipment - net
Intangible Assets - 479,032.53 570,079.15 (91,046.62) -15.97%
net
Other Assets 3,639.694.92 3,393,253.62 246,441.3 7.26%
Total Non- 102,849,533.42 84,710,546.06 18,138,987.36 21.41%
Current Assets
TOTAL ASSETS 124,167,365.35 108,857,801.34 15,309,564.01 14.06%
LIABILITIES & EQUITY
Current Liabilities
Financial Liabilities 4,643,187.02 5,128,906.99 (485,719.97) -9.47%
Inter Agency 868,640.82 751,609.20 117,031.62 15.57%
Payables
Trust Liabilities 971,536.89 712,499.66 259,037.23 36.36%
Other Unearned (979,527.04) 299,079.96 (1,278,607) -427.51%
Revenue/Income
Other Payables 135,786.54 82,515.54 53,271 64.56%
Total Current 5,639,624.23 6,974,611.35 (1,334,987.12 -19.14%
Liabilities
Non-
Current Liabilities
 Financial Liabilities 12,231,432.04 15,312,356.02 (3,080,923.98) -20.12%

Total Non- 12,231,432.04 15,312,356.02 (3,080,923.98) -20.12%

Current Liabilities
Total Liabilities 17,871,056.27 22,286,967.37 (4,415,911.1 -19.81%
Equity
Government Equity 3,549,905.53 3,549,905.53 0 0%
Retained Earnings 102,746,403.55 83,020,928.44 19,725,475.11 23.76%
Total Equity 106,296,309.08 86,570,833.97 19,725,475.11 22.78%
TOTAL LIABILITIES & 124,167,365.35 108,857,801.34 15,309,508.01 14.06%
EQUITY
 HORIZONTAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2016 and 2015
Income 2016 2015 Increase/ % Change
Decrease

Service and 74,066,364.23 64,501,788.89 9,564,575.34 14.83%

Business Income

Gains 269,346.43 269,346.43 0 0%

Gross Income 74,335,710.66 64,501,788.89 9,833,921,77 15.25%

Expenses

Personnel Services 25,947,750.28 24,745,276.01 1,202,474.27 4.86%

Maintenance and 19,262,210.04 14,469,771.37 4,792,438.67 33.12%

other Operating
Expenses

Financial Expenses 1,117,154.82 2,108,024.76 (990,869.94) 47%

Non-cash 6,627,060.92 5,824,790.02 802,270.9 13.77%

Expenses

Total Expenses 52,954,176.06 47,147,862.16 5,806,313.9 12.32%

Net Income 21,381,534.60 17,353,926.73 4,027,607.87 23.21%

Other
Comprehensive Loss

Loss on Sale of 9,269.79 9,269.79 0 0%

Assets

COMPREHENSIVE 21,372,264.81 17,353,926.73 4,018,338.08 23.16%

INCOME
 HORIZONTAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2016 and 2015

2016 2015 Increase / De % chang

crease e
Cash Flows from Operating
Activities
Cash Inflows
Collection of Water 63,736,773.69 57,758,744.46 5,977,989.23 10.35%
Bills
Collection of 2,343,317.83 2,217,417.71 125,900.12 5.68%
Penalty
Collection of Other 1,519,191.11 582,723.18 936,467.93 160.7%
Water Revenues
Receipt from Sales 1,379,465.72 1,282,739.92 96,725.80 7.54%
of Installation
Materials
Receipt of 2,740,520.52 2,404,253.20 336,267.32 13.99%
Installation Fees
Refund of 484,836.22 590,663.96 (105,827.74) -17.92%
overpayment of
expenses and Cash
Advance
Receipt of 178,603.50 178,603.50
Performance/Bidders/
Bail Bonds
Unreleased Checks 116,778.35 116,778.35
as of Dec 31, 2016
Total Cash Inflows 72,499,486.94 64,836,542.43 7,662,944.51 11.82%
Cash Outflows
 Payment of 45,331,150.01 41,234,431.84 4,096,718.17 9.94%
Operating Expenses
Purchase of 8,556,900.02 9,288,472.33 (731,572.31) -7.88%
Materials Inventory
Refund of Bidder's 50,024.30 50,024.30
Bonds
Transfer to 6,000.00 6,000.00
Restricted Fund
Taxes, Duties and 1,394,486.40 1,272,065.47 124,420.93 9.62%
Licenses
Purchase of Office 304,591.81 301,489.80 3,102.01 1.03%
Supplies Inventory
Total Cash Outflows 55,643,152.54 52,096,459.44 3,546,693.10 6.81%
Total Cash Provided (Used ) 16,856,334.40 12,740,082.99 4,116,251.41 32.31%
by Operating Activities

Cash Flows from Investing

Activities

Cash Inflows

Interest on Bank Deposits 60,861.28 65,509.28 (4,648) -7.1%

Total Cash Inflows 60,861.28 65,509.28 (4,648) -7.1%

Cash Outflows

Purchase/Construct of

Land/Building 464,275.00 27,500.00 436,775 1,588.27

%

Plant (UPIS) 11,243,496.85 11,243,496.8

5

Office Equipment, 1,473,995.09 474,735.88 999,259.21 210.49%

Furniture and Fixtures
 Transportation 1,322,054.00 1,635,580.00 (313,526) -19.17%
Equipment

Other Property, Plant and 764,364.45 5,611,038.02 (4,846,673.5 -86.38%

Equipment 7)

Deposit to JSA and 6,000.00 (6000) -1%

Expropriation Reserve

Total Cash Outflows 15,268,185.39 7,754,853.90 7,513,331.49 96.89%

Total Cash Provided (used) (15,207,324.1 (7,689,344.62 (7,517,979.4 97.77%

by Investing Activities 1) ) 9)

Cash Flows from Financing

Activities

Cash Inflow

Cash Outflow

Cash payment of 1,117,154.82 2,133,503.10 (1,016,348.2 -47.64%

Interest on Loans Payable 8)

Payments of 3,893,257.79 3,996,031.47 (102,773.68) -2.57%

Domestic Loans

Total Cash Outflows 5,010,412.61 6,129,534.57 (1,119,121.9 -18.26%

6)
 HORIZONTAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF CHANGES IN EQUITY
AS OF DECEMBER 31, 2016
2016 2015 Increase/Decr % Chan
ease ge
Retained Earnings

Restated Balance at J - 67,960,756.28 - -100%

anuary 1, 2015 67,960,756.28
Prior Year's Adjustments (293,265.90) (2,293,755.03) 2,00,489.13 87.21%

Reclassification of (1,353,523.80) - 0 0%
Accounts (PRFS)
Net Income for the 21,372,264.81 17,353,927.19 4,018,337.62 23.16%
Period
Balance, December 31 102,746,403.5 83,020,928.44 19,725,475.11 23.76%
5
Government Equity - - - -

Restated Balance at J - 3,549,905 -3,549,905 -100%

anuary 1, 2015
Prior Year's Adjustments - - - -

Reclassification of
Accounts (PFRS)
Net Income for the
Period
Balance, December 31
- - - -
- - - -
3,549,905.53 3,549,905.53 0 0%

Total Balances of Retained 106,296,309.0 86,570,833.97 19,725,475.11 22.79%

& Government 8
 VERTICAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2016
2016 % 2015 %
Assets
Current Assets
Cash and Cash 11,509,162.56 9.27% 14,870,564.88 13.66%
Equivalents
Receivables - net 6,033,183.80 4.86% 5,078,025.49 4.66%
Inventories 3,775,485.57 3.04% 4,198,664.91 3.86%
Total Current Assets 21,317,831.93 17.17% 24,147,255.28 22.18%

Non-Current Assets
Property, Plant & 98,730,805.97 79.51% 80,747,213.29 74.18%
Equipment - net
Intangible Assets - net 479,032.53 0.39% 570,079.15 0.52%
Other Assets 3,639.694.92 2.93% 3,393,253.62 3.12%
Total Non- 102,849,533.42 82.83% 84,710,546.06 77.82%
Current Assets
TOTAL ASSETS 124,167,365.35 100% 108,857,801.34 100%
LIABILITIES & EQUITY
Current Liabilities
Financial Liabilities 4,643,187.02 3.74% 5,128,906.99 4.71%
Inter Agency 868,640.82 0.7% 751,609.20 0.69%
Payables
Trust Liabilities 971,536.89 0.75% 712,499.66 0.65%
Other Unearned (979,527.04) -0.79% 299,079.96 0.27%
Revenue/Income
Other Payables 135,786.54 0.11% 82,515.54 0.08%
Total Current Liabilities 5,639,624.23 4.54% 6,974,611.35 6.41%
Non-Current Liabilities
 Financial Liabilities 12,231,432.04 9.85% 15,312,356.02 14.07%
Total Non- 12,231,432.04 9.85% 15,312,356.02 14.07%
Current Liabilities
Total Liabilities 17,871,056.27 14.39% 22,286,967.37 20.47%
Equity
Government Equity 3,549,905.53 2.86% 3,549,905.53 3.26%
Retained Earnings 102,746,403.55 82.75% 83,020,928.44 76.27%
Total Equity 106,296,309.08 85.61% 86,570,833.97 79.53%
TOTAL LIABILITIES & 124,167,365.35 100% 108,857,801.34 100%
EQUITY
 VERTICAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2016 and 2015

2016 % 2015 %
Income
Service and Business 74,066,364.23 99.64% 64,501,788.89 100%
Income
Gains 269,346.43 0.36% -
Gross Income 74,335,710.66 100% 64,501,788.89 100%
Expenses
Personnel services 25,947,750.28 34.91% 24,745,276.01 38.36%
Maintenance and Other 19,262,210.04 25.91% 14,469,771.37 22.43%
Operating Expenses
Financial Expenses 1,117,154.82 1.5% 2,108,024.76 3.27%
Non-Cash Expenses 6,627,060.92 8.92% 5,824,790.02 9.03%
Total Expenses 52,954,176.06 71.24% 47,147,862.16 73.10%
Net Income 21,381,534.60 28.76% 17,353,926.73 26.90%
Other Comprehensive Loss
Loss on Sale of Assets 9,269.79 0.01% 9,269.79 0.01%
COMPREHENSIVE INCOME 21,372,264.81 28.75% 17,353,926.73 100%
 VERTICAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2016 and 2015

2016 % 2015 %
Cash Flows from
Operating Activities
Cash Inflows
Collection of Water 63,736,773.69 -1,896.14% 57,758,744.46 5,354%
Bills
Collection of Penalty 2,343,317.83 -69.71% 2,217,417.71 205.55%
Collection of Other 1,519,191.11 -45.20% 582,723.18 54.02%
Water Revenues
Receipt from Sales of 1,379,465.72 -41.04% 1,282,739.92 118.90%
Installation Materials
Receipt of Installation 2,740,520.52 -81.53% 2,404,253.20 222.86%
Fees
Refund of 484,836.22 -14.42% 590,663.96 54.75%
overpayment of expense
s and cash advances
Receipt of Performan 178,603.50 -5.31%
ce/Bidders/Bail Bonds
Unreleased Checks as 116,778.35 -3.47%
of December 31, 2016
Total Cash Inflows 72,499,486.94 -2,156.82% 64,836,542.43 6,010.08%
Cash Outflows
Payment of Operating 45,331,150.01 -1,348.58% 41,234,431.84 3,882.23%
Expenses
Purchase of Materials 8,556,900.02 -254.56% 9,288,472.33 861%
Inventory
 Refund of Bidder's 50,024.30 -1.49%
Bonds
Transfer to Restricted 6,000.00 -0.18%
Fund
Taxes, Duties and 1,394,486.40 -41.49% 1,272,065.47 17.92%
Licenses
Purchase of Office 304,591.81 -9.06% 301,489.80 27.95%
Supplies Inventories
Total Cash Outflow 55,643,152.54 -1,655.36% 52,096,459.44 4,829.13%
Total Cash Provided 16,856,334.40 -501.47% 12,740,082.99 1,180.95%
(Used) by Operating
Activities
Cash Flows from
Investing Activities
Cash Inflows
Interest on Bank 60,861.28 -1.81% 65,509.28 6.07%
Deposits
Total Cash Inflows 60,861.28 -1.81% 65,509.28 6.07%
Cash Outflows
Purchase/Construct of

Land/Building 464,275.00 -13.81% 27,500.00 2.55%

Plant (UPIS) 11,243,496.85 -334.49%

Office Equipment, 1,473,995.09 -43.85% 474,735.88 44.01%

Furniture and Fixtures

Transportation 1,322,054.00 -39.33% 1,635,580.00 151.61%

Equipment
Other Property, Plant 764,364.45 -22.74% 5,611,038.02 520.12%
and Equipment
Total Cash Outflows 15,268,185.39 -454.41% 7,754,853.90 718.84%

Total Cash Provided (15,207,324.11 452.41% (7,689,344.62) 712.77%

(used) by Investing )
Activities
Cash Flows from Financi
ng Activities
 Cash Inflow
Cash Outflow
Cash payment of 1,117,154.82 -33.23% 2,133,503.10 197.77%
Interest on Loans
Payable
Payments of 3,893,257.79 -115.82% 3,996,031.47 370.42%
Domestic Loans
Total Cash Outflows 5,010,412.61 -149.076 6,129,534.57 568.18%

Total Cash Used in (5,010,412.61) 149.06% (6,129,534.57) 568.18%

Financing Activities
Net Cash Flow (3,361,402.32) 100% (1,078,796.20) 100%

Cash and Cash 14,870,564.88 -442.39% 15,949,361.08 1,478.44%

Equivalents, beg.
Cash and Cash 11,509,162.56 -342.39% 14,870,564.88 1,378.44%
Equivalents, end.
 VERTICAL ANALYSIS

CARCAR WATER DISTRICT

STATEMENT OF CHANGES IN EQUITY
AS OF DECEMBER 31, 2016

2016 % 2015 %

Retained Earnings

Restated Balance at January - - 67,960,756.28 78.50%

1, 2015
Prior Year's Adjustments (293,265.90) -0.28% (2,293,755.03) -2.65%

Reclassification of Accounts (1,353,523.80) -1.27% -

(PRFS)
Net Income for the Period 21,372,264.81 20.11% 17,353,927.19 20.05%

Balance, December 31 102,746,403.55 96.66% 83,020,928.44 95.90%

Government Equity - - -

Restated Balance at January - - 3,549,905.53 4.10%

1, 2015
Prior Year's Adustments - - -

Reclassification of Accounts - - -
(PFRS)
Net Income for the Period - - -

Balance, December 31 3,549,905.53 3.34% 3,549,905.53 4.10%

Total Balances of Retained & 106,296,309.08 100% 86,570,833.97 100%
Government

CAPITAL STRUCTURE

EQUITY,
106,296,309.08

ASSETS,
124,167,365.35

DEBTS, 17,871,056.27

THE COMPANY USES EQUITY TO FINANCE THE PURCHASE OF ITS ASSETS.

San Vicente Ferrer Street, Cogon, Carcar - Barili Rd, Carcar City, 6019 Cebu

A government-owned and controlled corporation created and existing by virtue of P.D. 198 as
amended.
Its primary objective is to provide sufficient potablo water to the residents of Carcar City
utilizing available sources of water and applying appropriate water treatment measures to
ensure the water is safe for the consumption of its concessionaires.

As of December 31, 2016, CWD had a total workface of 96 employees composed of 47 regular
personnel, 22 casual and 27 job order employees. CWD is headed by General Manager Edward
L. Remo.